Top Agent America / Calculators / Seller net proceeds

What you actually walk away with

A seller net sheet for Michigan, with the state and county transfer taxes calculated at their statutory rates. Change any number and the sheet updates.

Your numbers

The balance your lender will demand at closing, not your last statement.

Commission

What you agree to pay your own brokerage.

Since August 2024 this is negotiated separately in Michigan and is not automatic. Leave it at zero if you are not offering it.

Michigan transfer tax

Set by statute, not by us: the state tax is $3.75 per $500 of sale price (MCL 207.504) and the county tax is $0.55 per $500 (MCL 207.526). Both come out of the seller's side by default.

Michigan exempts the state portion on a principal residence when the state equalized value at sale is not higher than it was when you bought, and the sale is at or below true cash value. Your title company confirms it at closing. The county portion still applies.

Closing costs

Ask your title company for a quote. Michigan owner policy premiums are set on a sliding scale by each company, so we do not guess one for you.

In most of Michigan the seller settles taxes through the closing date. Your city and your closing month decide this.

Unpaid water, association dues, judgments, home warranty.

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Questions people ask

Who pays the transfer tax in Michigan?

By custom and by the standard Michigan purchase agreement the seller pays both the state and the county real estate transfer tax. It is negotiable like anything else in a contract, but the default is the seller.

Is the principal residence exemption automatic?

No. It applies only when your property qualifies, most commonly when the state equalized value at the time of sale is not greater than it was when you bought and the property sells for no more than its true cash value. Your title company verifies it and files the affidavit.

Why does this not estimate my title insurance?

Because Michigan title companies each set their own rate schedule, so any number we printed would be a guess dressed up as a fact. Get a written quote and put it in the field. We would rather your sheet be right than pretty.

Is this really free?

Yes. Buyers and sellers never pay us anything. When a deal closes, the agent pays a standard referral fee out of their own commission. Your agreement with your agent is exactly the same as if you had found them yourself.

Do I have to work with the agent you match?

No. The match is an introduction, not a contract. If the fit is wrong, tell us and we will introduce someone else, or you can simply walk away.